Consumer Proposals: Answers to Questions

Most Recent ‘Consumer Proposals’ Posts

consmer proposal payments

If I find i cannot make my payments after unemploment runs out and can’t get a job.will creditors come after me again? Posted from: Nova Scotia

missed payments

what happened if I miss a payment on my consumer proposal Posted from: Alberta

debt negotiations

Am I allowed to travel ouside Canada if I undergo consumer proposal/ debt negotiations? Posted from: Ontario

I now a consumer who died and his scheduled payments were missed for three months. The spouce was not a part of the consumer proposal but inherited a WILL for assets and liabilities. what is the recourse here? Posted from: Alberta

What is a interim administrator’s statement of receipts of disbursements?

What is an interim administrator’s statement of receipts and disbursements? I received a form 14 letter in the mail from the company handling my consumer proposal. I have never missed a payment. Posted from: Ontario

Will creditors accept a cp?

I owe about $28,000 in credit card debt and money I owe the CRA. My income is about $600/month (welfare). I know most posts on here say that creditors will accept a minimum of 1/3 of the debt owed, but I don’t have the money to pay any of the debt back. I don’t want […]

Why can’t I do a proposal?

I have met with a Trustee and asked if I can do a consumer proposal instead of a bankruptcy. The Trustee said that I don’t have enough income to support a proposal, but I disagree. I owe $30,000 and had the understanding that if I could come up with 1/3 of the money I owe […]

What happens if I purchase an RRSP while in a proposal?

What happens if i purchase an RRSP while in a proposal. Just 100$ a month? Posted from: Alberta

Majority RBC debt

Hi, I am looking to do a consumer proposal. Currently 64000 I’m debt. 40000 is in RBC lines of credit. We are hoping to offer them somewhere between 35-40% repayment. What are the odds they will accept this? We could probably maximize repaying around 50%. Would they even go for that? Thanks Posted from: New […]

Consumer proposal/mortgage

If you have to sell your house to pay back creditors and you have a mortgage who gets paid first? Do you pay off your house and then let the rest fight over the profit. Posted from: British Columbia

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